Cancel the Coin Act
Source: Congress.gov ·
254 words in original text
What This Bill Does
This bill limits the face value (the official value printed on a coin) of coins made by the U.S. government. The bill amends federal law to set a maximum face value of $200 for any coin the Secretary of the Treasury mints or issues.
Who It Affects
The Secretary of the Treasury (the government official in charge of making coins) is directly affected by this bill's restrictions on coin production.
Key Provisions
- The Secretary of the Treasury cannot mint or issue any coin with a face value exceeding $200 (Sec. 2(bb))
- The bill changes the rules for platinum coins to include a limit of $200 face value (Sec. 2(1)(A))
What Changes
If this becomes law, the Secretary of the Treasury would no longer be allowed to create coins with a face value higher than $200. Currently, the Secretary has broader authority to determine coin face values without this specific dollar limit.
Important Definitions
Face value (nominal value): The official value printed or assigned to a coin by the government.
Effective Date
Not specified in bill text
Important: This plain English summary was generated by AI and is provided for informational purposes only.
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